Incurred But Not Reported Claims Clause Samples

Incurred But Not Reported Claims. (a) The parties shall do all -------------------------------- things necessary to assure that all Policies which provide coverage remain applicable to LifePoint and Triad and their respective Subsidiaries and assets after the Distribution Date, to the extent they were applicable prior to the Distribution Date with respect to losses incurred prior to the Distribution Date. (b) The parties shall do all commercially reasonable things necessary to assure continued coverage for incurred but not reported claims and incidents which have not been filed with insurers which would have been covered under Policies which provide coverage on a claims made basis had they been made and reported prior to the Distribution Date including the purchase of tail coverage by Columbia/HCA with respect to claims made policies if the replacement policies acquired by LifePoint or Triad do not have retroactive dates which provide coverage for all occurrences which would have been covered by the Policies had they remained in effect after the Distribution Date. (c) Indemnity payments under Policies which are on an occurrence basis in respect of claims made after the Distribution Date arising out of occurrences prior to the Distribution Date shall be for the account of the party (i) whose asset after the Distribution Date was the basis for the claim or (ii) in the case of liability claims, which is the owner after the Distribution Date of the facility at which the activity which is the subject of the claim occurred or is alleged to have occurred; provided, however, that, in respect of claims -------- ------- under Policies for the account of LifePoint or Triad, if the Policy under which the claim was made provides for any deductible, co-insurance or self-insured retention or if the claim is not fully covered because the policy limits have been exhausted, such amounts shall be paid to such party by Columbia/HCA pursuant to the indemnification provided for in the Distribution Agreement.
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Incurred But Not Reported Claims. (a) The parties shall do all -------------------------------- things necessary to assure that all Documents which provide coverage remain applicable to New Hillhaven and its Subsidiaries and its assets after the Distribution Date, to the extent they were applicable prior to the Distribution Date. (b) The parties shall do all commercially reasonable things necessary to assure continued coverage for incurred but not reported claims and incidents which have not been filed with insurers which would have been covered under Documents which provide coverage on a claims made basis had they been made and reported prior to the Distribution Date. (c) Indemnity payments under Documents in respect of claims made after the Distribution Date arising out of occurrences prior to the Distribution Date shall be for the account of the party whose asset after the Distribution Date was the basis for the claim; provided, however, that if the Document under -------- ------- which the claim was made provides for any aggregate deductible, co-insurance or self-insured retention or if the claim is not fully covered because the aggregate policy limits have been exhausted, the allocation of payments under such Document shall be reallocated in accordance with the procedure shown in Schedule 1.03(c).
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Related to Incurred But Not Reported Claims

  • Product Liability Claims Notwithstanding the provisions of Section 9.2, any Losses arising out of any Third Party claim, suit, action, proceeding, liability or obligation involving any actual or alleged death or bodily injury arising out of or resulting from the development, manufacture or Commercialization of any Fibrocell Products or Improved Products for use or sale in the Field, to the extent that such Losses exceed the amount (if any) covered by the applicable Party’s product liability insurance (“Excess Product Liability Costs”), shall be paid by [*****], except to the extent such Losses arise out of any Third-Party Claim based on the gross negligence or willful misconduct of a Party, its Affiliates, or its Affiliates’ sublicensees, or any of the respective officers, directors, employees and agents of each of the foregoing entities, in the performance of obligations or exercise of rights under this Agreement.

  • ASSUMPTION OF RISKS; CLAIMS BETWEEN THE PARTIES Contractor assumes sole responsibility and all risks of personal injury or property damage to itself and its employees and agents in connection with its operations under this Master Contract. Enterprise Services has made no representations regarding any factor affecting Contractor’s risks. Contractor shall pay for all damage to any Purchaser’s property resulting directly or indirectly from its acts or omissions under this Master Contract, even if not attributable to negligence by Contractor or its agents.

  • LIABILITIES OF THE PARTIES 11.1. Should the Buyer breach the terms of payment stipulated in the Contract and corresponding additional agreements, the Buyer shall pay to the Seller liquidated damages of 0.05% of the amount outstanding per full calendar day of the payment delay. Should the Buyer fail to make 100% payment of Goods cost within 2 days of the time stipulated for payment, the Seller has the right, at its sole discretion, to terminate the Contract by written notice to the Buyer and without further liability upon the Seller. Should the Buyer breach the terms of signing of additional agreements both on provisional price and on final one, and the terms of fulfillment of final settlement, indicated in cl.8.3, the Seller reserves the right at its sole discretion, not to nominate the future Goods lots with further postponement of the delivery or decrease of the whole amount under the current Contract and / or to terminate the Contract without further liability upon the Seller. 11.2. The Parties acknowledge that the Seller has a legitimate interest in ensuring prompt and full loading of the stipulated quantity of Goods and that any failure of the Buyer to load the full quantity of Goods at the time specified in the Contract could cause the Seller significant loss and inconvenience. In particular, the Buyer understands that any such failure may cause the Seller to incur costs including, but not limited to, terminal storage charges, railway demurrage and / or infrastructure charges, and / or vessel demurrage in respect of other vessels. Accordingly, should the Buyer fail to load the full quantity of Goods at the time specified in the Contract: 11.2.1. the final price (Pr(F)) of the Goods shall be increased by 0,05% of the Contract value of the unlifted goods, per full calendar day of delay in lifting; and 11.2.2. the Seller shall have the right, at its sole discretion, to cancel the delivery of the unlifted Goods and / or to terminate the Contract without further liability upon the Seller. 11.2.3. Сompensates to the Seller losses suffered, including, but not limited to the following: charges of the Seller for storage of the Goods in the tanks of the terminal and in tanks of park of Ministry of Railways, charges of the Seller for using an infrastructure of the railways, other connected with this charges including demurrage claims of other vessels. 11.3. The Buyer shall exercise reasonable efforts to ensure that: 11.3.1. for vessels carrying persistent oil products as cargo, the vessel carries on board a certificate of insurance as described in the Civil Liability Convention for Oil Pollution Damage; and 11.3.2. the vessel has in place insurance cover for oil pollution no less in scope and amounts than available under the Rules of P&I Clubs entered into the International Group of P&I Clubs. 11.3.3. the vessel shall comply with the requirements of the International Ship and Port Facility Security Code and the relevant amendments to chapter XI of SOLAS (ISPS Code). 11.4. The Seller shall procure that the loading port/terminal/installation shall comply with the requirements of the International Ship and Port Facility Security Code and the relevant amendments to Chapter XI of SOLAS (ISPS Code).

  • Other Liabilities Local Church represents and warrants that is has no loans, leases or other debts secured by the Real Property or Personal Property, except those matters set out Schedule 3.2, and that if any debts exist, secured or unsecured, it shall either satisfy all of its debts, loans, and liabilities, or assign or transfer such obligations to its new operating entity prior to or simultaneous with Closing, and solely bear the cost thereof. Local Church must provide sufficient documentation of the same to Annual Conference.

  • Payment of Liabilities, Including Taxes, Etc Each Loan Party shall, and shall cause each of its Subsidiaries to, duly pay and discharge all liabilities to which it is subject or which are asserted against it, promptly as and when the same shall become due and payable, including all taxes, assessments and governmental charges upon it or any of its properties, assets, income or profits, prior to the date on which penalties attach thereto, except to the extent that such liabilities, including taxes, assessments or charges, are being contested in good faith and by appropriate and lawful proceedings diligently conducted and for which such reserve or other appropriate provisions, if any, as shall be required by GAAP shall have been made.